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Both pairs I’m watching on this mechanical system moved sideways for the past week, but the strategy only caught a few signals. Take a look!

In this revised version of the Short-Term Bollinger Reversion Strategy, I’m waiting for RSI to cross above or below oversold or overbought levels to indicate a bit more momentum in the direction of the trade. Make sure you review the tweaks here.

USD/CAD had a short position left open in the earlier update, and unfortunately this snagged the stop loss on the pop higher before dipping to the middle band.

USD/CAD 1-hour Forex Chart
USD/CAD 1-hour Forex Chart

Another short position was opened later in the week, and this is faring much better.

Price already hit the first profit target at the middle band, which means that the stop loss has been trailed to entry for a risk-free play on the remaining half.

This leaves the pair down by 50 pips on the earlier position and locking in at least 41.5 pips on the second signal.

Meanwhile, CAD/CHF didn’t test the top or bottom bands until later in the week when it generated a long signal.

CAD/CHF 1-hour Forex Chart
CAD/CHF 1-hour Forex Chart

Price already hit the first target at the middle band and seems to be on track towards climbing to the top.

Here’s how it’s looking:

That’s at least a 16-pip gain on the long position, with the remaining half having the stop adjusted to entry.

By the looks of it, the gains on both pairs so far would be enough to make up for the full loss on USD/CAD, even if the rest of the positions hit their stops. Still, I’m keeping my robot fingers crossed that USD/CAD and CAD/CHF reach their full targets soon!

Have you seen how the numbers turned out for Q1 2020 yet? Oh, and don’t forget to check out Forex Ninja’s Systems Showcase in case you missed it!